Reliq Health Technologies Inc V.RHT.H

Accelerating warrant expiration date

[Gardaw1]

I'm somewhat ticked off about the company not intending to accelerate the exercise date of the warrants that were issued in early December 2020. Those warrants were issued as part of the units issued at that time. Each unit consisted of one common share and one half of a common share purchase warrant. The warrants expired in 2 years and prior to their expiration one whole warrant could be exercised to buy one common share for $0.30 but the company had the right to accelerate the expiration date if the stock traded above $0.50 for 10 consecutive trading days which it obviously now has done. Clearly the purchasers of these units have done incredibly well on their investment. The common shares included in the units they bought for $0.225 a unit less than three months ago are now trading above $0.80 a share and for each two units bought they can buy another share for $0.30. The whole point of the acceleration provision is to enable the company to get the money into its hands and available for its use more quickly while at the same time having the purchasers of the units be happy that the shares they bought for $0.30 each are trading at a price of at least $0.50. My dismay at the company not accelerating the exercise date is only increased by the fact that LC bought over 400,000 units. By not accelerating the exercise date the company is choosing to effectively make an interest-free loan to the purchasers of those units rather than getting the proceeds from the exercise of the warrants into the company where they can be used for the benefit of all shareholders.